According to police, a robber, posing as customer entered R J Jewellery shop on M G M Road and asked Kanak Shah, owner of the shop to show him gold rings.
As Shah displayed the jewellery, two more persons armed with firearms barged into the shop and looted at gunpoint, they said.
After looting the ornaments worth about Rs 56 lakh, the trio made away with the loot, police said, adding that the CCTVs in the shop were not functioning.
In the second robbery, four armed men barged into the customer service point of Geosansar, the SBI bank's business facilitator, in Borivali.
"The four robbers, aged between 25 to 30 years, came in a white Maruti Esteem and entered the office. At the time of incident, two staff members Virendra Vind and Deepak Dalvi were present in the office. The men were carrying revolver and chopper and threatened them with dire consequences," DCP Mahesh Patil said.
"The robbers took Rs 1.80 lakh in cash from the counter. Vind tried to retaliate, but they injured him. The men then decamped with the cash," he added.
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The customer service points are the units where petty businessmen can open a bank account with as low as one rupee.
Yesterday, a robbery attempt was foiled by alert people, who caught one of five armed robbers who had looted Rs three lakh cash from a courier firm, police said.